St. Paul daily globe., 1887-10-13
CROOKED PIANO SELLING.
An Interesting Story in Connec-
tiOn With Peterson d Blaikie s
Assignment.

Petersen & Blaikie, the well-known
music dealers of No. 80 East Third street,
with joint store in Minneapolis, have
suspended, and yesterday they made an
assignment to John w. White, an,sattor-
ney, stating that as the Peoples bank, of
New \ Ork, in suit against thenseiiad
garnisheed their account with the Com
mercial National bank of this city, the
assignment was necessary to protect
their creditors. Their assets and liabil.
tiles will come out about square, at be-
tween $4,000 and $4,000. Mr.. White
was in Minneapolis yesterday afternoon
taking an inventory of all the stock in
the Minneapolis store. 1t has been
known for some time that the local firm
was being rather crowded, and Mr..
Blaikie said this to GLOBE representa-
tive on Thursday of last week. but he
explained that Mr.. Petersen had been in
New York and would be able, he
thought, to make arrangements with
their creditors and with the Chickering
people and the banks of New York that
lily. The firm had bought pianos of
Colby, Duncan & Co. on the understand
ing that its notes could be renewed at
any time.
But then there was something more
in Mr.. PeterSon'S visit than this. The
man Colby, of the firm of Colby. Dun
can d Co., had induced Mr.. Peterson to
gotO some extent into the business affairs
of the CoibyDuncan-Ch combin-
alton, and Mr.. Peterson, so he himself
explained last night, was there for the
very purpose of endeavOring to get the
creditors of Colby, Duncan IL Co. to not
push their claims, but to give the col
lapsed concern more time, and Mr..
IN,
been the swindled victim-swindled to
to the probable extent of about $4,000
by the Colby-Duncan Co., and it is
the action of Waidr0n Williams, the
brother of the receiver and lawyer,
which has ultimately forced Peterson 81
Blaikie to the wall. The substance of
Adolph PetersOn's story is this:
CROOKED BUSINESS METHODS.
Christie had charge of their manufacturing
department; Duncan, to put it mildly, was
the buyer, and Colby was the schemer
Colby has been up here six times III four
months. He made such plausible representa-
tions about their company, and he wanted
me to become their vice president at a salary
of $1,000 year. He gradually worked me
into the net by his false representations, and
induced me to give him deed of my prop
erty, amounting to about $4,000. He had
amounting to SIO,O 900. Then he has about
$4,000 or $40, 900 of the firm notes for goods
which we have not yet received, and this
paper and the goods which we have not yet
received are tied up in the Colby-Duncan
collapse. We really do not owe a cent [
went down to New York, and Colby repre-
sented to me that their assets would amount
to Sls7 900 over their liabilities. ! thoughtif
that would like to look into their accounts
went around to all their creditors and re-
duced their assets from S1S7.00O to SAC, ,OOO
Then went around to their creditors and
cold fIAy, H.,
the condition of things; if you will all prom
Use to do your share, and if the banks can
loan us about S25, 900, or any reasonable
amount, think we shall be able to pull
through. Colby largest creditor, Williams.
the lumber merchant, treated me very kindly,
and he and the action man, and the banks
all agreed to do their share. They were 60
Ing to call a meeting of the creditors. and
affairs of the Colby Duncan company into
proper shape. But did not want to have
anything to do with the concern in Its then
shape, having been advised by my friends to
stay out At the meeting the creditors all ex-
pressed their regrets at the swindle which
had been practiced upon me, and appointed
young Williams, son of the lumber merchant
the receiver l have found out since that
Colby made the same proposition which he
made to me to seven other men. He told a
nice story and l was taken in. Now we are
left. with a dollar and half in our
pockets, owing to the doubtful action
w
yer. 1t is all family compact.
Williams: the father as you will see by the
New York Musical Courier, continues to sup
ply the concern with lumber for piano manu-
facture; his elder son, the receiver, continues
to manufacture and put upon the market the
pianos, and his younger son, Waldron,
THE LAWYER, GETS A LIVING.
Waldron Williams came up here and asked
me for my word Of honor that 1 would not
disturb the business. but leave everything as
1t was until he sent q message from New
York. which, he told me, would receive on
Wednesday yesterday. have not received
any message; it is not necessary He went
right off to Atwater, of Minneapolis, and as
his father is also vice president of the Peo-
pies bank in New York, he got Atwater to
commence suit against us, and garnishee
our bank account at the Commercial Ma
tional, and this after he had secured our
word of honor, and had given his, that
everything should be all right. He said he
was a young lawyer, and if he made botch
of the Colby Duncan affair, his reputation,
which he had yet to make, would be for
ever ruined, and / took him at
his word. OF course we thought it better to
make an assignment. The Chickering COM
pany has never refused TO support us; on the
contrary, this company and all our creditors